NiSource price target raised to $41 from $36 at Argus

Argus analyst John Eade raised the firm’s price target on NiSource (NI) to $41 from $36 and keeps a Buy rating on the shares. The company has recently completed a corporate restructuring that resulted in the spinoff of its nonregulated pipeline group, and the firm is positive on the management’s “tight rein” on operating expenses as well as capital spending while making significant investments in green energy generation, the analyst tells investors in a research note. Argus adds that NiSource, with a $14B market cap, could become a buyout target, as larger utilities and private equity firms pursue smaller utilities because of their stable earnings growth and attractive dividend yields.